Praxeology: My Reflexions on India

Immediately after winning his reelection bid with yet another thumping majority, on the back of surgical strikes across the LoC, the prime minister of India Narendra Modi made   three vows   to the people of India. They are, My first vow is that I will not do anything out of ill-will or bad intentions, I could make mistakes but never do anything out of malice. My second vow is that I shall never do anything for myself in order to garner profit for myself, and my third vow is that every minute of my life and myself I shall devote to the country. Whenever you want to evaluate me, you must do so on these parameters. This is a cheap tactic of setting up a narrative that suits him, but for the sake of argument let us evaluate him using his own parameters only. In these vows there is a message for Indians who voted overwhelmingly him back to power. This message is the following one: First, Modi said he won’t do anything out of ill-will or bad intentions. I doubt any form...

Life means reproduction and survival up to the age of reproduction. That survival requires energy that we receive by consuming various goods. There are two types of these goods. One that we use directly to satisfy our needs and second that indirectly satisfies our needs. The first one is called  consumer goods  and the second  producer goods . The problem that we all face is that the supply of these goods, in relation to its demand by all of us, is scarce. Scarcity is the basic condition of our lives. Now, if we want to improve our material life, which is a fundamental necessity and basis of all other needs, then we will have to reduce this scarcity as much as possible. If there are abundant goods available to fulfill our various needs then the quality of our life will definitely be better than a situation where those goods are not abundant. Riches is better than poverty. The fundamental question that arises from this fact of life is, which system will help us in in...